EUR/USD: Levels, Ranges, Targets
DXY and EUR/USD both trade below descending yet massively solid trend lines and its why 97 DXY and 1.1552 EUR/USD are vital breaks. The point at 1.1552 explains also why price saw the current retreat. The current view is seen only in the DXY V EUR/USD perspective because the 3, 5 and 10 year lines reveals EUR/USD deeply clusters on the lines. This informs what a negative 24% rate of change means in interest rates and indexed from 10 natioins. The world economic situation is quite dramatic over the past 8 years and it why DXY and the Fed must lead the next price journey.
EUR/USD. Bottom. 1.1275, and achieves targets by breaks at 1.1303 and 1.1289.
Upper targets 1.1387, 1.1344 and Failure point at 1.1365.
Vital breaks above descend from 1.1466, 1.1407, 1.1397, 1.1339 to 1.1349, don't touch this area.
Below vitals 1.1264, 1.1221 1.1215, distance created here, watch this area for breaks over coming days because next comes 1.1159 and 1.1136. Break of 1.1215, opens the flood gates to lower prices.
1.1090 remains all month the big break lower and current price all month is contained inside 200 pips in the DXY V EUR/USD relationship. So far, 8 days into the month, price held inside the range and not expected to break, all month.